Digital wealth management company Scalable Capital will expand its product range with fixed-term deposits through new collaboration with Raisin.
Customers of Scalable Capital which have a portfolio account at Baader Bank can now invest into fixed-term deposits with select European banks through Rasin’s solution. The new service can be accessed via Scalable Capital’s website and apps.
This service starts from a minimum of €500.
Fixed-term deposits are suitable for funds that are needed instantly or in the near future and should not fluctuate with markets. Scalable Capital customers can deposit their funds with banks in Germany and the European Economic Area (EEA) at a lower than average interest rate in Germany, which is around 0%. This enables customers to lower effects of inflation.
Raisin is a “one-stop shop for online savings and investments.” The Germany-based FinTech offers consumers and SMEs access to a marketplace of over 500 deposit products from across Europe, as well as diversified exchange-traded fund (ETF) portfolios and pension products.
Scalable Capital co-founder and co-CEO Florian Prucker said, “With this partnership we are complementing our product range with products that offer an attractive return without capital market risks. In addition to our automatically managed ETF portfolios for long-term wealth accumulation, our clients can now easily deposit their funds in European fixed-term accounts.
“We are happy to be working with Raisin. The founding spirit and business model fit together perfectly on both sides. The partnership is ideal for giving our clients access to fixed-term deposits throughout Europe.”
Scalable Capital provides investors with access to ETFs, creating them a portfolio of equities, government bonds, corporate bonds, commodities, real estate, and cash. The firm recently closed a $28m funding round to help it grow its platform a little quicker.
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